In 20 19, the state subsidies for new energy vehicles decreased on a large scale, and the local subsidies for new energy vehicles were completely cancelled. The minimum cruising range of subsidized vehicles is 250km, and the maximum state subsidy is halved to 25,000 yuan. Vehicles over 400km can still be obtained. The large-scale decline of subsidy policy for new energy vehicles indicates that the whole industry will be reshuffled, and car companies with core technologies will have stronger competitive advantages to survive. Car companies that rely on subsidies and local government policies will face greater challenges.

With the increase of public charging infrastructure and the improvement of subsidy policy for pure electric vehicles, the penetration rate of pure electric vehicles in China has gradually increased, but the growth rate has slowed down. In 20 19, the penetration rate of pure electric vehicles in China reached 4.68%, an increase of 0. 14 percentage points over the previous year. New Energy Automobile Industry Development Plan (202 1-2035)

In), the goal of electric vehicles accounting for 25% in 2025 is defined, and the penetration rate of 4.68% in 20 19 is far from the goal in 2025.

Although the popularization of pure electric vehicles has encountered great challenges and difficulties, electrification of vehicles is an inevitable trend of future automobile development. It is believed that with the breakthrough of technology, the market acceptance of pure electric vehicles will be higher and higher, and the popularity of pure electric vehicles will gradually increase.

—— The above data comes from the Analysis Report on Market Foresight and Investment Strategic Planning of China New Energy Automobile Industry by Forward-looking Industry Research Institute.